NorthMarq Capital arranges two multifamily transactions in Reno, Nevada worth $27 million

Two Multifamily Properties

Debt & Equity

Multi-Tenant

LOS ANGELES (July 2, 2014) – Ory Schwartz, senior vice president/managing director secured two multifamily transactions totaling $27,955,000 for Creekside Apartments and Club Ambassador Apartments, located in Reno, Nevada. NorthMarq arranged financing for the borrower in both transactions through its seller/servicer relationship with Freddie Mac. “The sponsor took advantage of Freddie Mac’s Treasury Index Lock to eliminate their aversion to rate volatility while maximizing loan proceeds,” said Schwartz. Club Ambassador Apartments: Located at 6402 Mae Anne Avenue, this 245 unit multifamily property was refinanced at $15.030 million. The transaction was structured with a 10-year term and 30-year amortization schedule. Creekside Apartments: Located at 4600 Mirea Loma Drive, this 224 unit multifamily property was refinanced at $12.925 million. The transaction was structured with a 10-year term and 30-year amortization schedule.

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.